NVR's Q4 revenue, profit fall on higher lot costs and pricing pressure
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NVR's Q4 revenue fell 5% year-over-year, with net income down 20%. The average sales price of new orders decreased by 3%, while new orders increased by 3% to 4,951 units. Mortgage banking income rose 24% due to higher secondary marketing gains. Analysts currently rate the stock as a "hold" with a median 12-month price target of $8,275, reflecting a 10.3% upside from its recent closing price of $7,499.76.
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